Oasis Ecosystem Fund assets reach $200 million after Binance Labs support

The venture arm of the exchange Binance has backed the Oasis Ecosystem Fund, which focuses on financing developers of decentralised applications (dapps) built on the Oasis Network.

Looking forward to building Oasis Ecosystem together! ?https://t.co/yr9YKDADBl

— Binance Labs Fund (@BinanceLabs) January 11, 2022

Thanks to Binance Labs’ investment, the Oasis Ecosystem Fund grew from $160 million to $200 million.

The Oasis Ecosystem Fund focuses on supporting applications in DeFi, NFTs, metaverses, as well as projects involved in data tokenisation and the development of privacy-preserving applications.

Among the other participants in the fund:

• AME Cloud Ventures;
• Dragonfly Capital Partners;
• Draper Dragon;
• Electric Capital;
• FBG;
• Hashed;
• Jump Capital;
• Kenetic Capital;
• NGC Ventures;
• Oasis Foundation;
• Pantera Capital.

Developers are convinced that the scalability architecture ParaTime, used in the Oasis Network, is ‘perfectly suited for DeFi’. According to project representatives, their network offers substantial throughput, lower gas costs than Ethereum, built-in privacy features and protection against MEV.

The Oasis Network platform also provides compatibility with the EVM and Solidity, enabling easy creation of dapps and the migration of existing Ethereum applications to the new blockchain.

Oasis developers also announced the launch of the decentralized exchange YuzuSwap and cross-chain bridge Wormhole Bridge, interacting with the Avalanche, Binance Smart Chain, Terra, Ethereum, Polygon and Solana networks.

Earlier, Binance Labs invested $12 million in the liquidity platform WOO Network.

In October 2021, the cryptocurrency exchange Binance announced the launch of a $1 billion framework to develop and support the Binance Smart Chain ecosystem.

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